Mining Group begins drilling of newly discovered copper-gold target in Mindanao Philippines

Mining Group Limited (ASX: MNE) is an ASX listed, is an Australian based exploration company established to explore, evaluate and acquire commercially significant resource projects in Australia and overseas

Mining Group (ASX: MNE) has begun diamond drilling to test the copper and gold system recently discovered at Tagpura North, part of the 80% owned Comval copper-gold project in the Compostela Valley Province, Mindanao, Philippines.

Tagpura North lies about 1 kilometer north of the historic Tagpura East resource.

Mining Group previously discovered extensive gold rich skarn and diorite at Tagpura North with peak assays up to 3.58% copper and 12.52 grams per ton (g/t) gold from rock chips.

The company has defined a 500 meter by 300 meter target zone that is open along strike to the northeast which is a significantly larger footprint than the Tagpura East resource.

It has returned some of the highest copper and gold grades seen within the project area from rock chip samples to date.

Importantly, the newly discovered Tagpura North skarn, located only 750 meters from the Tagpura open pit mine, has the potential to further build on the resource base.

Last month Mining Group delivered its first resource for the project of 32.675 million tons at 0.42% copper and 0.13g/t gold for 136,100 tons of contained copper and 138,900 ounces of contained gold.

Importantly, this includes a high grade resource of 8.987 million tons at 0.63% copper and 0.2g/t gold, which is all at surface and expected to have a low stripping ratio.

Drilling is expected to continue over the next two to three months.

Zeff Reeves, managing director, told Proactive Investors last month the drilling of the Tagpura North Target will involve two to four holes, depending on how the first two look.

Over the broader Comval Project, Mining Group is currently assessing its resource models and will be looking at further drilling on the Tagpura East deposit and possibly Kalamatan once ground geophysics are completed. 

Proactive Investors United Kingdom

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Procter & Gamble will invest $50-Million Dollar Plant Expansion in the Philippines

Procter and Gamble Philippines Inc. is a fully owned subsidiary of Procter and Gamble USA (PMC-USA), a non-resident foreign corporation in the Philippines.

P & G, world's leading consumer products manufacturer, is investing $50 million in the country over the next five years to expand and improve its Cabuyao Distribution Center.

Ed Hunter, P & G vice-president for Asia Product Supply and Asia Sustainability, will formally announce this five-year expansion plan tomorrow.

Hunter will be here in Manila this week for market visit and external engagement, the P & G media advisory said.

The $50 million expansion of its Cabuyao Distribution Center reinforces the company's long term commitment to the Philippines as a key growth market in terms of manufacturing and source of volume, the company said.

Just in May this year, P&G Philippines inaugurated its P3-B state-of-the-art baby-care production facility in Cabuyao, Laguna.

The baby care line supports the growing demand of disposable diapers for both domestic and the Asian region. P & G's Pampers is one of the leading disposable diaper brands.

The new production line was the first phase in the consumer products manufacturing giant's additional investments in the country in a period of three years in order to facilitate growth in the business by optimizing its supply chain.

The three-year expansion program aims to increase capacity and improve and upgrade P&G's products, installing facilities that are the most technically advanced in the world in terms of production. In addition to the installation of new production lines, additional building and infrastructure expansions are being planned.

P&G's global group president for baby care Martin Riant cited the Philippines during the plant inauguration for continuing to be a very attractive investment and growth market for the company.

"The Philippines remains a key market for P&G globally. Throughout the company's 75-year history in the country, P&G has continually invested in innovations to improve and upgrade its plant technology and facilities and provide Filipinos products with superior quality and value," Riant said.

Considered one of the biggest and most advanced manufacturing plants for P&G in Asia, the Cabuyao Plant serves the Philippines and several markets in the ASEAN region.

The plant manufactures fabric and home care brands Ariel, Tide, Bonux, Downy Fabric Enhancer, and Joy Dishwashing Liquid; personal cleansing and skin care products Safeguard, Zest, Secret and Old Spice; feminine care brand Whisper and baby care brand Pampers.

In 2010, P&G Philippines celebrated its 75th year of operations in the country. Today, the Philippines organization has grown to over 1400 employees spread in its 3 entities – P&G Philippines, Inc., which manufactures P&G products for the Philippines and several markets in the ASEAN region, P&GIOSA-ROHQ Manila Service Center, a shared service centre that provides high-end accounting, financial and related services to P&G operations in markets all over the world, and P&G Distributing (Philippines), Inc., which handles the local distribution of its brands. (BCM)

Manila Bulletin 

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